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Companies Act, 2013, Section 266

Title: Power of Tribunal to Assess Damages Against Delinquent Directors, Etc.

State: Central

Year: 2013

.....to the interests of the company, the Tribunal shall, by order, direct the public financial institutions, scheduled banks and State level institutions not to provide, for a maximum period of ten years from the date of the order, any financial assistance to such person or any firm of which such person is a partner or any company or other body corporate of which such person is a director, by whatever name called, or to disqualify the said director, promoter, manager from being appointed as a director in any company registered under this Act for a maximum period of six years. (3) No order shall be made by the Tribunal under this section against any person unless such person has been given a reasonable opportunity of being heard.

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Companies Act, 1956 Chapter 8

Title: Miscellaneous Provisions

State: Central

Year: 1956

.....power conferred by any instrument and who has taken possession, shall once in every half year while he remains in possession, and also on ceasing to act as receiver, file with the Registrar an abstract in the prescribed form of his receipts and payments during the period to which the abstract relates. Section 422 - Invoices, etc., to refer to receiver where there is one Where a receiver of the property of a company has been appointed, every invoice, order for goods, or business letter issued by or on behalf of the company, or the receiver of the company, being a document on or in which the name of the company appears, shall contain a statement that a receiver has been appointed. Section 423 - Penalty for non-compliance with sections 421 and 422 If default is made in complying with the requirements of section 421 or 422, the company, and every officer of the company who is in default, shall be punishable with fine which may extend to1[two thousand rupees]. For the purposes of this section, the receiver shall be deemed to be an officer of the company. ______________________ 1. Substituted by Act 53 of 2000, Section 186, for "two hundred rupees (w.e.f. 13-12-2000). .....

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Companies Act, 1956 Section 424K

Title: Misfeasance Proceedings

State: Central

Year: 1956

.....other than a bona fide purpose of the company or had managed the affairs of the company in a manner highly detrimental to the interests of the company, the Tribunal shall by order, direct the public financial institutions, scheduled banks and State level institutions not to provide, during a period often years from the date of the order, any financial assistance to such person or any firm of which such person is a partner or any company or other body corporate of which such person is a director (by whatever name called). (3) No order shall be made by the Tribunal under this section against any person unless such person has been given an opportunity for making his submissions. (4) This section shall apply notwithstanding that the matter is one for which the person may be criminally liable.

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Companies Act, 1956 Amending Act 4

Title: Companies (Second Amendment) Act, 2002

State: Central

Year: 1956

THE COMPANIES (SECOND AMENDMENT) ACT, 2002 [Act, No. 11 of 2003] [13th January 2003] PREAMBLE An Act further to amend the Companies Act, 1956. BE it enacted by Parliament in the Fifty-Third Year of the Republic of India as follows:-- Section1. Short title and commencement (1) This Act may be called the Companies (Second Amendment) Act, 2002. (2) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the commencement of that provision. Section2. Amendment of section 2 In section 2 of the Companies Act, 1956 (1 of 1956) (hereinafter referred to as the principal Act),-- (a) after clause (1a), the following clause shall be inserted, namely:-- '(1B) "Appellate Tribunal" means the National Company Law Appellate Tribunal constituted under sub-section (1) of section 10FR;'; (b) after clause (19A), the following clauses shall be inserted, namely:-- '(19AA) "industrial company" means a company which owns one.....

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Companies (Second Amendment) Act, 2002 Section 47

Title: Insertion of New Part Via

State: Central

Year: 2002

.....practicable for the company to make its net worth exceed the accumulated losses or make the repayment of its debts referred to in clause (b) of sub-section (2) of section 424A within a reasonable time. (2) If the Tribunal decides under sub-section (1) that it is practicable for a sick industrial company to make its net worth exceed the accumulated losses or pay its debt referred to in that sub-section within a reasonable time, the Tribunal shall, by order in writing and subject to such restrictions or conditions as may be specified in the order, give such time to the company as it may deem fit to make its net worth exceed the accumulated losses or make repayment of the debts. (3) If the Tribunal decides under sub-section (1) that it is not practicable for a sick industrial company to make its net worth exceed the accumulated losses or make the repayment of its debts referred to in clause (b) of sub-section (2) of section 424A, within a reasonable time and that it is necessary or expedient in the public interest to adopt all or any of the measures specified in section 424D in relation to the said company it may, as soon as may be, by order in writing, direct any operating.....

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Sick Industrial Companies (Special Provisions) Act, 1985 Chapter IV

Title: Proceedings in Case of Potentially Sick Industrial Companies, Misfeasance Proceedings, Appeals and Miscellaneous

State: Central

Year: 1985

.....firm, means a partner in the firm. Section 35 - Power to remove difficulties If any difficulty arises in giving effect to the provisions of this Act or the rules, schemes or orders made thereunder, the Central Government may, by notification, remove the difficulty: Provided that no such notification shall be made by the Central Government after the expiry of a period of three years from the date on which this Act receives the assent of the President. Section 36 - Power to make rules (1) The Central Government may, by notification, make rules for carrying out the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-- (a) the salaries and allowances payable to and other terms and conditions of service of the Chairman and other Members under sub-section (7) of section 6; (b) the powers which may be exercised and the duties which may be performed by the Secretary to the Board or the Appellate Authority under sub-section (1) of section 8; (c) the restrictions and conditions subject to which officers and employees may be appointed to the Board.....

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Sick Industrial Companies (Special Provisions) Act, 1985 Section 24

Title: Misfeasance Proceedings

State: Central

Year: 1985

.....purpose other than a bona fide purpose of the company or had managed the affairs of the company in a manner highly detrimental to the interests of the company, the Board shall, by order, direct the public financial institutions, scheduled banks and State level institutions not to provide, during a period of ten years from the date of the order, any financial assistance to such person or any firm of which person is a partner or any company or other body corporate of which such person is a director (by whatever name called). (3) No order shall be made by the Board under this section against any person unless such person has been given an opportunity for making his submissions. (4) This section shall apply notwithstanding that the matter is one for which the person may be criminally liable.

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Hindu Religious Institutions and Charitable Endowments Act, 1997 Chapter VI

Title: Notified Institutions

State: Karnataka

Year: 1997

.....(2), it is satisfied that the committee has; (a) failed to discharge the duties or perform the functions in accordance with the provisions of this Act or the rules made thereunder; or (b) disobeyed any lawful orders issued under the provisions of this Act or the rules made thereunder by the State Government or the Commissioner, Deputy Commissioner or Assistant Commissioner; or (c) committed any malfeasance or misfeasance or is guilty of breach of trust or misappropriation in respect of the properties of the institution or endowment; (2) Where the prescribed authority proposes to take action under sub-section (1) it shall frame the charge against the Chairman and give him an opportunity of meeting such charge or testing the evidence adduced against the charge and of adducing evidence in favour of the Committee; and the order of dissolution shall state every charge framed against the Committee, explanation offered by the committee and the finding on such charge together with the reasons therefor. (3) Pending enquiry under sub-section (2) the prescribed authority may suspend the Committee and appoint an administrator in accordance with section 29. (4) Any person.....

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Hindu Religious Institutions and Charitable Endowments Act, 1997 Section 28

Title: Power to Dissolve the Committee of Management

State: Karnataka

Year: 1997

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Hindu Religious Institutions and Charitable Endowments Act, 1997 Chapter IX

Title: Powers and Functions of Commissioner and Other Officers

State: Karnataka

Year: 1997

.....of Budget accounts, report or return, or (b) wilfully disobeys and lawful orders issued by the Commissioner under the provisions of this Act or rules made thereunder, or (c) continuously neglects his duty or commits any malfeasance or misfeasance or breach of trust in respect of a Notified Institution, or (d) misappropriates or deals improperly with the properties of the Notified Institution of which he is the Chairman, Manager or other person concerned with the management of the Institution. (e) accepts any position in relation to the Notified Institution which is inconsistent with his position as a Chairman, Manager or such other person, or (f) is convicted of an offence involving moral turpitude. (2) Where the Commissioner proposes to take action under sub-section (1), he shall frame charges against the person against whom action is proposed to be taken and give him an opportunity of meeting such charges or testing the evidence adduced against him and of adducing evidence in his favour. The order of removal or dismissal shall state the charges framed against the person, his explanation and the finding on each charge with reasons thereof. (3) Pending.....

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